USDA analysts increased the wheat export forecast for Ukraine

The USDA report for April forecasts a slight decrease in global wheat production for the 2024/25 season, but a slight increase in ending wheat stocks. The forecast for Ukraine's wheat harvest and the US wheat harvest remain unchanged. Export forecasts have increased for Ukraine and the US, while ending stocks are expected to be lower in China. The 23rd International Conference BLACK SEA GRAIN.KYIV, to be held in Kyiv on April 24, will discuss the development of the grain sector in the Black Sea and Danube region.

World wheat production in the 2024/25 season is forecast at 796.85 million tons (-0.38 million tons compared to the previous forecast). This is evidenced by the USDA report for April. The forecast for world wheat exports is 206.82 million tons (-1.37 million tons). Experts have increased the forecast for ending wheat stocks in the world to 260.7 million tons (+0.62 million tons). The forecast for the wheat harvest in Ukraine has remained unchanged – 23.4 million tons, the export forecast has increased by 0.5 million tons – 16 million tons. Ending stocks will be at 1.49 million tons (-0.2 million tons). The forecast for the US wheat harvest is unchanged at 53.65 million tons, the export estimate is 22.32 million tons (-0.4 million tons), and ending stocks are 23.03 million tons (+0.73 million tons). Forecast for major wheat exporters for MY 2024/25: USDA analysts forecast wheat production in China in the MY 2024/25 at 140.1 million tons, imports estimated at 3.5 million tons ...